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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)(1)
Little Switzerland, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
537528-10-1
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(CUSIP Number)
Kenneth S. Hackel Joel M. Handel, Esq.
11 Marcotte Lane Baer Marks & Upham LLP
Tenafly, New Jersey 07670 805 Third Avenue
(201) 546-5535 New York, New York 10022
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 12, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
/ /.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. SEE Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 pages)
(1)The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 537528-10-1 Page 2 of 3 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Kenneth S. Hackel
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds* See Item 3
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization United Stated
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(7) Sole Voting
Power 3,000
NUMBER OF --------------------------------------------------
SHARES (8) Shared Voting
BENEFICIALLY Power 0
OWNED BY --------------------------------------------------
EACH (9) Sole Dispositive
REPORTING Power 3,000
PERSON WITH --------------------------------------------------
(10) Shared Dispositive
Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 3,000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
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(13) Percent of Class Represented by Amount in Row (11) < 1%
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(14) Type of Reporting Person* IN
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CUSIP NO. 537528-10-1 Page 3 of 3 Pages
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ITEM 1 SECURITY AND ISSUER
Item 1 is hereby amended in its entirety as follows:
This statement on Schedule 13D (the "Statement") relates to the common
stock, par value $0.01 per share (the "Common Stock"), of Little Switzerland,
Inc., a Delaware corporation (the "Company"), and hereby amends the Schedule 13D
filed with the Securities and Exchange Commission ("SEC") on October 20, 1997.
The address of the principal executive office of the Company is 161-B Crown Bay
Cruise Ship Port, St. Thomas, Virgin Islands 00802.
ITEM 2 IDENTITY AND BACKGROUND
The information previously provided in Item 2 remains unchanged.
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The information previously provided in Item 3 remains unchanged.
ITEM 4 PURPOSE OF TRANSACTION
Item 4 is hereby amended by adding the following paragraph:
"The Reporting Person made the sale in order to reduce his personal
investment in the Company."
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
Item 5(a) is hereby amended to read as follows:
"The Reporting Person currently owns 3,000 shares of Common Stock. Based
upon there being 8,554,202 shares of Common Stock outstanding, the shares of
Common Stock owned by Mr. Hackel, beneficially and of record, represent less
than 1% of the Common Stock of the Company.
Item 5(c) is hereby amended by adding the following:
"Mr. Hackel sold 428,000 shares on March 12, 1998 at a price per share of
approximately $7.73, for an aggregate net sale price of $3,308,324.40."
As Mr. Hackel's aggregate holdings of the Company are now below 5% of the
outstanding shares, he will file no further statements on Schedule 13D with
respect to these securities unless additional purchases of the Shares are made
and such purchases result in him holding more than 5%.
ITEM 6 INTEREST IN SECURITIES OF THE ISSUER
The information previously provided in Item 6 remains unchanged.
ITEM 7 INTEREST IN SECURITIES OF THE ISSUER
The information previously provided in Item 7 remains unchanged.
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify the information set forth in this Amendment is true,
complete and correct.
Dated: July 14, 1998
/s/ KENNETH S. HACKEL
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Kenneth S. Hackel
